MLchartDataset catalogue

Family limited partnership

Term · Law · MLC-T-LAW-002054

A business entity used for estate planning, where family members are partners. It allows a senior family member to transfer assets to younger generations while retaining control as the general partner. This structure can provide valuation discounts for gift and estate tax purposes, subject to Internal Revenue Service regulations.

Table 1. Record
IdentifierMLC-T-LAW-002054
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-002054",
  "term": "Family limited partnership",
  "field": "Law",
  "definition": "A business entity used for estate planning, where family members are partners. It allows a senior family member to transfer assets to younger generations while retaining control as the general partner. This structure can provide valuation discounts for gift and estate tax purposes, subject to Internal Revenue Service regulations.",
  "url": "https://mlchart.com/terminology/law/family-limited-partnership/"
}

Record 1,954 of 5,445 in Law terminology (MLC-0107). Request the full dataset.